After working with hundreds of 401k plans for more than 30 years, I have consistently encountered a relatively small number of 401k fixes that can make a big difference in almost every 401k plan. None will cost you much money and some may even save you money. Check out this list to see how many of these 401k fixes you can implement in your plan.
Many investors believe that gold can be an effective hedge against inflation and falling stock and bond markets. Should you add a gold fund to your 401k plan? It’s not an easy decision, but here are issues to consider.
The recent CARES Act made it easier for 401k plan participants to withdraw money from their accounts. In order to allow what are being called COVID-19 withdrawals from your 401k plan, you would need to amend it. However, I don’t believe you should adopt provisions allowing your 401k plan to permit COVID-19 withdrawals.
Weak equity markets have one silver lining for 401k plan participants with large account balances: a Roth in-plan conversion.
Volatile markets have returned with a vengeance. The Dow Jones Industrial Average has fluctuated by thousands of points on recent trading days. During these times your 401k plan participants can become very nervous, and understandably so. Plan sponsors and their investment advisers can help calm participants during these volatile markets by sharing the following.
Recently I shared a post on retirement readiness that focused on the employer’s responsibilities in helping employees build a retirement plan balance that is sufficient for them to retire without a reduction in standard of living. But employees won’t succeed in achieving their retirement dreams unless they do their part as well.
The attributes listed in this piece have become associated with an employer’s responsibilities in helping participants achieve retirement readiness.
You probably have heard a lot of good things about the recently passed, strangely named but appropriately abbreviated Setting Every Community Up for Retirement Enhancement Act – the SECURE Act. Many parties will be affected by the SECURE Act, and many entities will profit. However, you may be surprised to learn that the average American’s ability to retire sooner, with more security or even at all, is not materially improved by the Act.
A frequent question I get from 401k plan participants is “What type of contributions should I make Bob, Roth 401k contributions or traditional pre-tax 401k contributions?” It now appears that everyone would be better off making Roth 401k contributions only. Here’s why.
What 401k improvements are you considering for your plan in 2020? Most leading edge employers will have the following items on their list of 401k improvements for the coming year.